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ECB President Jean-Claude Trichet. Martin Oeser/AP/Press Association Images
Anglo
German report says ECB considered rescue fund for Ireland
Newspaper alleges plan to support Ireland was abandoned by EU banking body.
Published in full with permission from BusinessInsider.com.
Yes, things were really hairy for Ireland last week. News like this should make you doubt any talk of Ireland having had a “good” bond auction.Bloomberg cites a report in German newspaper Handelsblatt that the ECB told countries to prepare for a bailout of Ireland via the Financial Stability Fund, and that countries have already been told to raise money on behalf of Ireland.
Authorities ultimately decided not to go ahead with the plan, but they were obviously close, and there’s no reason to think they won’t have to do so imminently.
(by Joe Weisenthal via Konrad_Easby)
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